LoginAccording to one recent study, businesses in the United States added 162,000 jobs during the month of September, higher than some had predicted.
The most recent figures from ADP Employer Services revealed that companies with fewer than 500 employees accounted for the majority of the hiring, and the statistics are thought to be a positive economic indicator. The increase beat the estimates of economists surveyed by Bloomberg, who had predicted gains of 140,000.
Some experts believe that the smaller companies, rather than larger corporations, are playing a bigger role in sustaining growth.
"Small and medium-size firms continue to be the driving force behind job growth,” said Ward McCarthy, chief financial economist at Jefferies & Co., according to Bloomberg. “Hiring at startup and small firms will continue to be the key to the sustainability of the labor market recovery going forward.”
Other studies have similarly shown progress when it comes to small business hiring. According to The Washington Post, the Small Business Employment and Revenues Indexes released by Intuit increased by 0.2 percent, meaning that 40,000 new workers were added to payrolls at small firms.
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